VSIP Thai Binh Industrial Park: New economic growth driver of the province

Vietnam - Singapore Industrial Park (VSIP) has long been one of the model industrial parks in Vietnam. With large investment scale, modern infrastructure and sustainable development orientation, VSIP has created positive impacts on the socio-economic development of many localities. The implementation of VSIP Industrial Park in Thai Binh not only opens up opportunities for industrial development but also contributes to making the province one of the new economic centers of the Red River Delta region.

Overall perspective of VSIP Thai Binh industrial park in An Tan and Thuy Truong communes, Thai Binh Economic Zone.

Strategic destination for investors

VSIP's choice of Thai Binh as the next destination in its chain of industrial parks is not a random decision but is based on the province's important strategic advantages.

Mr. Lee Ark Boon, CEO of Sembcorp Development, Co-Chairman of the Board of Directors of VSIP Group, said: Thai Binh is located in the center of the Red River Delta, adjacent to the key economic triangle of Hanoi - Hai Phong - Quang Ninh. VSIP Thai Binh Industrial Park is near Diem Dien Port and Dinh Vu Port (Hai Phong), creating favorable conditions for trading goods and developing logistics services. In addition to its prime location, VSIP Thai Binh Industrial Park is located on the coastal road and near key traffic routes such as the Ninh Binh - Hai Phong Expressway and the Lao Cai - Hanoi - Hai Phong railway, which will be invested in the near future. When the infrastructure is completed and the traffic system is conveniently connected, VSIP Thai Binh Industrial Park will become an important logistics center of the region.

According to the planning until 2030, Thai Binh is oriented to become a major industrial center of the Red River Delta; with a modern economic structure with industry as the driving force for economic growth. Along with that goal, the province will develop many industrial parks, arrange large enough land funds and call for strategic investors to promote development. VSIP is one of the large, reputable investors investing in Thai Binh, demonstrating its determination to accompany the province in realizing this great goal.

Thai Binh has issued many preferential policies and attractive investment incentives to attract domestic and foreign investors, especially in high-tech industries, supporting industries and renewable energy. At the same time, VSIP is a large, experienced and capable investor with appropriate mechanisms to attract high-quality projects. Therefore, it can be said that VSIP Thai Binh Industrial Park will become a strategic destination for investors in the near future.

Driving force for socio-economic development

With a total area of ​​333.4 hectares in An Tan and Thuy Truong communes (Thai Thuy), the VSIP Thai Binh Industrial Park project is expected to bring great economic benefits and contribute significantly to the social development of the locality. To date, VSIP has attracted 1,000 investors from 30 countries and territories, with a total investment capital of over 23 billion USD invested in industrial parks nationwide. In Thai Binh alone, this industrial park is expected to receive more than 4,900 billion VND in investment in the first quarter of 2025.

Mr. Nguyen Hong Dai, General Director of VSIP Thai Binh said: VSIP Thai Binh aims to attract key industries including electronic components, mechanical engineering, supporting industries and renewable energy in line with the province's orientation and contributes to the transformation of the local economic structure towards modernity. Therefore, when investing in industrial park infrastructure, we will proactively design and invest synchronously, keeping up with the trend of green and sustainable development. VSIP Thai Binh has full solutions to support investors in meeting high standards of using clean technology, reducing greenhouse gas emissions and optimizing energy consumption.

The system of existing industrial parks operating in VSIP nationwide mainly attracts export manufacturing enterprises with a total export turnover of 32 billion USD. The investment in VSIP Thai Binh Industrial Park will also contribute to promoting exports, increasing the export turnover of Thai Binh and the whole country. VSIP industrial parks have created jobs for more than 320,000 workers nationwide. In Thai Binh, according to the calculation of the infrastructure investor, VSIP Thai Binh Industrial Park will create jobs for about 30,000 local workers.

In addition to its economic value, VSIP Thai Binh Industrial Park is also assessed to bring significant social benefits to the locality. VSIP is not only an industrial park but also develops according to the model of an integrated urban area, including housing, schools, hospitals and other facilities, helping to promote the urbanization process. With a mechanism to support secondary investors, VSIP cooperates with vocational schools and businesses to train and improve the skills of workers, helping them adapt to modern production requirements. Oriented towards sustainable development, VSIP Thai Binh focuses on applying green technology, using renewable energy, minimizing environmental impacts and improving the quality of life for the community.

Ready for VSIP Industrial Park to appear

Understanding the meaning, importance and effectiveness that VSIP Thai Binh Industrial Park will bring, people in the project area are very excited and look forward to the project's early presence in the area.

Ms. Vu Thi Thuy, Tan Truong village, An Tan commune said: My family has more than 1,200m2 ^of agricultural land subject to recovery for the project. At the end of 2024, when the local government invited me to attend a meeting and announced the land recovery policy, my family and I agreed to hand over the land and receive compensation. I and the people in the commune all hope that VSIP Industrial Park will soon be invested in and put into operation, creating jobs for our children and grandchildren and stabilizing people's lives.

According to the leader of Thai Thuy District People's Committee, the site clearance work for VSIP Thai Binh Industrial Park investment project is currently being actively implemented, with more than 99.7% of households and individuals agreeing to hand over land ahead of schedule. The local government is urgently completing compensation documents for households whose land has been recovered, ensuring the rights of the people and promoting the progress of the project.

Mr. Nguyen Hong Dai, General Director of VSIP Thai Binh added: VSIP has prepared all resources to soon start investing in completing the synchronous and modern technical infrastructure of VSIP Thai Binh Industrial Park. We also promote domestic and international investment in parallel to find and attract the best investors to VSIP Thai Binh Industrial Park, not leaving the situation of land waiting for projects. In the immediate future, we are preparing all conditions well for the groundbreaking ceremony of VSIP Thai Binh Industrial Park project with the participation and witness of central leaders and Thai Binh province to be a great success, an event to welcome the two countries to upgrade the comprehensive strategic partnership between Vietnam and Singapore.

VSIP Thai Binh Industrial Park promises to become an important development driver of the province, contributing to promoting economic growth, creating jobs and improving the quality of life for local people.

Mr. Vu Kim Cu, Member of the Provincial Standing Committee, Head of the Provincial Economic Zone and Industrial Park Management Board, affirmed: With modern infrastructure design and investment, strategic location and attractive investment policies, VSIP Thai Binh is not only an ideal destination for investors, becoming a new economic growth driver of the province but also a testament to the sustainable development and international economic integration of Thai Binh.

Source: https://thaibinh.gov.vn/tin-tuc/tin-kinh-te/khu-cong-nghiep-vsip-thai-binh-dong-luc-tang-truong-kinh-te-.html